A report released Thursday by the Ohio Department of Higher Education contends that the state’s 14 public universities have come up with ways to realize more than $1 billion in savings and new revenue in the next five years.

The report is based on plans submitted to the state by each school after Gov. John Kasich established an Ohio Task Force on Affordability and Efficiency in Higher Education in 2015.

The University of Toledo and Bowling Green State University garnered solid marks on a progress report card issued by three members of that task force.

The review team, described by the state as three “business leaders,” evaluated the adequacy of the universities’ responses.

Task force recommendations ranged from requiring employees to use existing contracts to purchase goods and services to developing digital tools that offer students a lower-cost option than traditional textbooks.

UT earned the highest possible marks in four of the report’s seven categories, including in the development of goals for the next five years, efforts related to operation reviews and cost reforms, and work to provide financial literacy and advising services to students.

In the remaining three categories, UT earned midlevel marks, indicating the school needs to continue to make progress related to contracts and textbook affordability.

UT President Sharon Gaber said Toledo’s score card results are second only to Ohio State University.

She said the work to develop the plan helped the university pinpoint ways to be more efficient — such as energy savings. She said affordability for students is a priority.

“Each year they are going to be evaluating our progress,” Ms. Gaber said. “We are going to continue to make progress and we know that is important for UT and for students.”

BGSU received the report’s highest possible marks for utilization of joint contracts and conducting an operations review. The report indicated the school needs to make continued progress in the other categories.

“We were pleased that the report acknowledged some of our comprehensive efforts over the last seven to 10 years to increase efficiencies. We’ve worked very hard to be creative and to find new ways to control costs for our students and remain one of the most affordable universities in the state of Ohio for total cost of attendance,” said BGSU spokesman Dave Kielmeyer.

He said the university will continue to look for efficiencies.

In the next five years, the combined effect of all 14 schools’ efficiency plans would generate about $579 million in savings and $572 million in new revenue, which includes sponsorships and partnerships with other agencies, according to the state’s report.

But the report also said that too few schools have identified how money will be spent on “the most crucial priorities” — college affordability for students and “tangible investments in the quality of their education.” It also contends schools need to do a better job of pursuing cost-savings “across a variety of operating areas” and that boards of trustees need to lead the effort.

The report was signed by the trio of Patrick Auletta, president emeritus of KeyBank; Pamela Morris, president and chief executive officer of CareSource; and Mark Small, senior vice president and CFO of Cleveland Construction.

Contact Vanessa McCray at: vmccray@theblade.com or 419-724-6065, or on Twitter @vanmccray.

First Published February 24, 2017, 6:14 a.m.